Saturday, March 31, 2007

Tracking Sacramento Metro


Blogger hope's mom said...

Nice job here. I have been tracking properties since 2004 when my husband and I cashed out by doubling our money in three years. We have been renting in EG ever since. We paid cash for a house on an island in a foreign country. No lie.

This is the untold news here. And RealtyTrac Q3 2006 U.S. Foreclosure Market Report shows that 318,355 properties entered some stage of foreclosure nationwide during the third quarter of 2006. This is a 43% yearly increase in foreclosure fillings from Q3 2005. But there's more: California reported 37,317 properties in some stage of foreclosure for Q3 2006. And the month of November 2006 saw 16,000 new foreclosure fillings added. I don't know what December foreclosure numbers are, but I suspect it will be comparable to November's. What this means is more and more people who financed with ARMs are walking away. Matter of fact, has anyone else noticed lots of empty homes in their neighborhoods lately? I have. I can count more than 10 empty homes (many of them already bank owned) in my neighborhood. A flood of bank owned properties will only serve to drive these prices down even further.

I suspect we will be able to purchase a modest 3/2 by year's end for about $200K. I am happy to wait...

8:48 PM  
Blogger ntsteve said...

Sold my house in Highland California for 122k back in 1994, sold in May 2005 for 330k.

My wife and I had a house built in Thailand a couple of miles from the beach for 60k, nothing special, about 1400sw .ft., no property taxes, cheap food, cheap medical and a rapidly stronger currency in the Thai Baht. Starting an International tourism business, if I make 12k/yr I will be living like a king in this beautiful foreign land.
We bought the property when the thai baht was at 41/$, now at 36.42/$.

Life is good and getting better

9:18 AM  

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